Bank of New York Mellon Corp Acquires 169,657 Shares of Fortive Corporation $FTV

Bank of New York Mellon Corp lifted its holdings in Fortive Corporation (NYSE:FTV) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,972,281 shares of the technology company’s stock after buying an additional 169,657 shares during the period. Bank of New York Mellon Corp’s holdings in Fortive were worth $108,890,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Fortive by 43.6% in the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after purchasing an additional 168 shares during the period. Dorato Capital Management bought a new position in shares of Fortive during the 4th quarter valued at approximately $45,000. Hantz Financial Services Inc. increased its position in shares of Fortive by 149.3% during the 4th quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock valued at $47,000 after purchasing an additional 506 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Fortive during the 4th quarter valued at $49,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Barclays raised their target price on shares of Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Wells Fargo & Company lifted their price target on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Morgan Stanley upped their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup raised their price objective on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.62.

Fortive Trading Up 0.0%

FTV stock opened at $61.30 on Monday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $73.77. The firm’s 50-day moving average is $59.21 and its 200 day moving average is $56.75. The company has a market capitalization of $18.69 billion, a PE ratio of 36.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts anticipate that Fortive Corporation will post 2.97 EPS for the current year.

Fortive declared that its board has initiated a share repurchase program on Monday, May 4th that permits the company to buyback 20,000,000 outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

Fortive Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.